Prospectus - Notowania

Non-Interest Income
31
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Group Results
Non-interest income was €7.6 billion at September 30, 2009 - an increase of 14.6% or 21% on a like-for-like basis over M9 2008.
Within this item the share of Net trading, hedging and fair value income grew, given income of €1.6 billion as against a loss of
€730 million in 2008, while Net fees and commissions fell by 19% in M9 2009 to €5.7 billion from €7 billion in 2008. However it is
worth noting that the turnaround in the trend seen in Q2 2009 was consolidated in Q3 due to increased demand by investors for
financial services and a gradual return to equities.
Net non-interest income (€ million)
FIRST NINE MONTHS CHANGE
2009 2008 AMOUNT %
Fee and commission income 6,980 8,517 - 1,537 -18.0%
Fee and commission expense - 1,314 - 1,514 200 -13.2%
Net fees and commissions 5,666 7,003 - 1,337 -19.1%
Net trading, hedging and fair value income 1,651 - 730 2,381 n.s.
Othe administrative income 975 1,078 - 103 -9.6%
Other administrative expense - 671 - 699 28 -4.0%
Net other expense/income 304 379 - 75 -19.8%
Net non-interest income 7,621 6,652 969 14.6%
3.50
3.00
2.50
2.00
1.50
1.00
0.50
0.00
1.91
Net non-interest income (€ billion)
Quarterly figures
2.91
1.83
0.84
1.86
3.02
2.74
Q1 2008 Q2 2008 Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009
The fall in Net fees and commissions was largely due to a 30.5% fall in Asset management, custody and administration with a
negative spike in its most important component, Fund management in respect of unit investment funds (down by 38.9%), in line
with the shrinking in AUM volumes from M9 2008.
Net fees and commissions (€ million)
CHANGE
2009 2008 AMOUNT %
Asset management, custody and administration: 2,216 3,190 - 974 - 30.5%
segregated accounts 155 247 - 92 - 37.2%
management of collective investment funds 953 1,560 - 607 - 38.9%
insurance products 408 469 - 61 - 13.0%
securities dealing, placement and other services 700 914 - 214 - 23.4%
Current accounts, loans and guarantees 1,785 1,958 - 173 - 8.8%
Collection and payment services 1,079 1,152 - 73 - 6.3%
Forex dealing 347 396 - 49 - 12.4%
Note:
Other services 239 307 - 68 - 22.1%
Total net fees and commissions 5,666 7,003 - 1,337 - 19.1%
2008 figures were restated due to changes in classification of commissions.
Operating Costs
FIRST NINE MONTHS
Net fees: % breakdown
2.7%
6.1% 4.2%
Operating costs at September 2009 were €11.5 billion, a reduction of 8% or 4.9% on a like-with-like basis from M9 2008
Operating costs (€ million)
2009 2008 AMOUNT %
Payroll costs - 6,821 - 7,533 712 -9.5%
Other administraitve expense - 4,087 - 4,443 356 -8.0%
Recovery of expenses 318 417 - 99 -23.7%
Amortisation, depreciation and impairment
losse on intangible ad tangible assets
FIRST NINE MONTHS CHANGE
- 931 - 959 28 -2.9%
Operating costs - 11,521 - 12,518 997 -8.0%
4.00
3.00
2.00
1.00
19.0%
31.5%
Operating costs (€ billion)
Quarterly figures
4.14 4.22 4.16 4.17
16.8%
7.2%
12.4%
segregated accounts
management of collective
investment funds
insurance products
securities dealing, placement
and other services
Current accounts, loans and
guarantees
Collection and payment services
Forex dealing
Other services
3.82 3.87 3.83
0.00
Q1 2008 Q2 2008 Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009